2022 By The Numbers: Where are we at so far in the year?

JOHN RICE ASSOCIATE BROKER | REALTOR

As we head into fall, we can look back over the last 3 months to get a sense of the market activity for July, August and September. With that data, and the day-to-day current trends we can read the overall market activity; helpful insight for planning! The below link takes you to the last 90 days of reported data. Our additional blog post on “September 2022 vs 2021” will give you insight into this year vs last year.

As we look at the report below the general trends are:

  1. This is a still sellers market but not as HOT as we saw the last 2 years.
  2. There is more on the market now than a few months ago although still less than buyer demand. This means there are more choices for buyers, more competition for sellers and bottom line: planning and the right action plan will make the most impact in this market.
  3. The length of time on the market is trending UP – meaning you can expect a home to last a bit longer on the market than we saw last year, however the amount of time on the market still is well within the length of time to be considered a sellers market. As we highlighted in our earlier blog post, anything 180 days or less on the market keeps us in a sellers market. Right now the average days on market is trending 15-20 days on the market; keeping us still in the range of this being a strong market.

There is no doubt that rising interest rates are influencing buyers decisions and affordability. That coupled with more listings hitting the market is really leading to a lot of clients reaching out to better understand their current market value and the best way to navigate today’s market.

Let’s talk about your plans and how you can best move forward in today’s market! Reach out to me by clicking here: MESSAGE JOHN

You can view the full report here: 3rd Quarter 2022 QUARTERLY MARKET TRENDS REPORT

Let’s talk about your plans and how you can best move forward in today’s market! Reach out to me and let’s talk!

We would love to hear from you!

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A few words from our clients:
Purchased and sold with John, he is: Professional, an extremely good communicator, precise, and acted on our behalf 24/7. He kept us up to date on listings for purchase and preparation advice for selling our home. He was knowledgeable about neighborhoods. Photography for sale of our house was impressive. We were appreciative of the guidance regarding making offers, inspections, when to list our home, writing contracts, detailed review and presentation of offers on our home and being realistic about our purchase of new home. Great experience, Great Realtor.
J&G Junod
John helped us sell our house when we moved out of Grand Rapids 3 years ago and recently helped us purchase a new house when we moved back. He is very professional and knowledgeable of the area and market. I would recommend him to anyone looking to buy or sell.
S&K Weber
John Rice is hands down one of the best realtors in the Grand Rapids and surrounding areas. We have utilized him as our realtor on two separate occasions, once over 10 years ago, and again over the last several months to buy/sell. He is incredibly knowledgeable and uses his expertise to help guide you in your choices throughout the realty process. He is professional, kind, has impeccable attention to detail, responsive, and clearly loves what he does. Choose John for your realty needs…he is the best of the best!
Amanda W
We have worked with John multiple times now, both buying and selling homes. We 100% recommend him and he’ll always be our go-to realtor for any future real estate needs. John is experienced in the industry and well-known and respected. He is extremely professional and knowledgeable, on top of being an all-around nice guy. He is responsive and answered all of our questions along the way. We asked John for several referrals for other services (lender, cleaner, etc.) and we were very happy with all his suggestions. John is honest and will listen to your concerns/opinions. He is never pushy, but gives great advice based on his years of experience. We are so thankful for the guidance we received from John to make our recent home buying and selling experience successful and quick! If you need a realtor, call John.
G&E Webb
We can’t say enough good things about John. He is an awesome realtor! We bought our home with his help and just recently sold it with his help. He is highly knowledgeable about the Grand Rapids area market and his expertise and professionalism has shown through both times we worked with him...John is a wonderful communicator and a genuine person. His sincerity has been evident in his commitment to making the purchase and sale experience as seamless and informed as possible. We consider ourselves incredibly fortunate to have worked with John and strongly recommend him without reservation!
E&T VanBuskirk
We moved to the Grand Rapids area 11 years ago and John was very patient as we found our first home and made the experience absolutely seamless! When we were ready to sell and buy again we knew to reach out to John. As we remembered and appreciated, John is an absolute professional and was and advocate for our best interests at all times during this wild market. We found great value in our new home and he helped us get top dollar for our sale. Grateful to have him on our side though the whole process. You won’t be disappointed!
Lance W
We have worked with John to sell 1 home and buy 2 homes and he is an incredible realtor! He is professional, prompt with communication, honest and patient. We had quite the list for what we were looking for and John was always available to answer questions and get us in to look at a home. His knowledge and connections in the industry made both the buying and selling process go smoothly. We simply cannot recommend John enough!
Chase and Nicole O
It was a wonderful experience working with John. His professionalism, honesty, experience, and knowledge of the Grand Rapids market, helped us in multiple ways. John sold our home in one day, was honest about what we could expect from offers, and was spot on. As we progressed toward finding our new home, again, he was extremely knowledgeable about the neighborhoods, home values, and history of the homes. We are more than happy to say, that he helped us find our dream home within our budget! Anything I needed, he was there through emails, texts, or phone calls. He definitely put in a lot of work for us. Without a doubt, I will ask for his assistance again when the time comes. Thank you John!
T&A Lascari